Official UK procurement notice
Insurance Services - Material Damage, Business Interruption, Money & Terrorism and Public / Products Errors and Omissions Liability
Authority: CENTRE FOR PROCESS INNOVATION LIMITED (Public body)
What is being bought
Published requirement descriptionRenewal of Insurance Policies via procured broker for CPI insurance policies for Material Damage, Business Interruption, Money & Terrorism and Public Products , Errors and Omissions Liability.
CPV: Insurance services
The lotProcurement structure
single lot · no lot value publishedLot #1Procurement of Insurance Policies for Material Damages, Business Interruption, Money &…
Procurement of Insurance Policies for Material Damages, Business Interruption, Money & Terrorism and Public Products, Errors and Omissions Liability.
Procedure terms & legal framework
From the official record- Procedure method
- Award procedure without prior publication of a call for competition
- Legal basis
- CELEX · 32014L0024 Public Contracts Regulations 2015 (Directive 2014/24/EU)
- Procurement category
- Services
- Notice status
- Awarded without competition
- Procurement threshold
- Unspecified in notice
- Regulatory regime
- Standard
- Commercial structure
- Stand-alone contract (no framework)
- Competition type
- Direct award (no call for competition)
- GPA / WTO covered
- Yes (GPA)
- Recurring procurement
- Unspecified in notice
- First published
- 1 Dec 2023, 12:56 GMT
- Last source update
- 1 Dec 2023, 12:56 GMT
- FTS notice number
2023/S 000-035487- Classification (CPV)
- Delivery area
- Official registry OCID
ocds-h6vhtk-042100Find a Tender
- Why no open competition
- The procurement falls outside the scope of application of the directive
- Published justification
Centre For Process Innovation Limited (CPI) is putting out this notice as a VEAT (Voluntary Ex ante Transparency Notice) as CPI intends to complete a Direct Award to Newline Insurance Company Limited for the provision of the classes of insurance identified below, without a call for competition in accordance with the Public Contracts Regulations 2015.
The bulk of insurance services to be obtained under the Direct Award shall relate to Life Sciences Liability Insurance (Material Damage, Business Interruption, Money & Terrorism Public & Products Liability & Errors & Omissions Liability).
The contract duration is expected to be 24 months from 14th January 24 and the value of the contracts will be £450000.00
The justification for a Direct Award is the Life Sciences insurance market is protecting organisations against a unique range of risks, with differing exposures, the nature of the insurance requires extensive risk analysis of matters such as type of clinical trials being undertaken.
Furthermore there is a limited marketplace of organisations that undertake the specialist & complex business activities that CPI undertake (CPI operates as technology and research innovation centre specialising in highly advanced medicine manufacture,
formulations, therapeutic biologicals manufacture, and electronics & photonics systems) whereby it is considered the insurance market would not be able to adequately assess &
provide quotations to CPI via a Public Contracts Regulation tender process. It is because of these complex challenges that CPI via their procured broker have approached a number of
Insurers are proposing to continue working with their current insurance provider Newline Insurance Company Limited.
Commercial outcome & contract awards
Published awards, contracts and bid statistics, not a forecast| Awarded to | Value | Date | Status |
|---|---|---|---|
| Newline Insurance Company Limited | £450,000 † | — | Awarded |
Contracts
Contract 035487-2023-1 · Newline Insurance Company Limited
- Signed
- 1 Dec 2023
- Value
- £450,000
- Status
- active
Contracting authority & participating public bodies
Dispute resolution & review bodies
- CPI LtdReview body
Bidders & participating suppliers
1 commercial party on the notice- Newline Insurance Company LimitedAwarded supplier
Official documents & specifications
Official links; attachments are not copiedNo document links were published on the notice.